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Brookside gets moving on second Oklahoma well

22 November 2021 11:16
ASX: BRK

BRK has moved through a critical milestone positioning the company to begin production at Rangers Well. As the outlook for oil from its second well remains strong following the OPEC refusal to accelerate production. 

The energy explorer hit full-tilt production at its Jewell well earlier this month, and it has Rangers tabbed as its second major cash pipeline.  

Plans remain firm on developing more than 20 wells over five years in the Sooner State.  

The Perth-based company’s-controlled subsidiary, Black Mesa, will operate the site, and the company expects its majority working interest for the project to stand at over 80 per cent.  

Issued as a multi-unit horizontal sycamore well, Rangers has a total measured depth of around 17,750 feet and an average actual vertical depth of approximately 9300 feet.  

Preparation and planning continue ahead of the much-anticipated arrival of the Kenai 18 rig to the site. 

BRK’s Australian Stock Exchange-listed price has risen 4.76 per cent today, trading at 2.2c (10:37am UTC+8) 

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